Legal Question in Business Law in Washington

business partnership dissoultion

My husband dissolved his partnership in January and has yet received financial information that balances and assets have been sold since what is our liability of prior unreconciled account balances.


Asked on 7/03/07, 9:39 am

1 Answer from Attorneys

Susan Beecher Susan L. Beecher, Atty at Law

Re: business partnership dissoultion

When a partnership is dissolved, the partners are liable for any unpaid balances. It is not clear from your message what the status of the partnership is since January. Is the other partner still continuing the business? If the other partner still has apparent authority to act for the partnership as to third parties, (in other words, if vendors and customers have no idea that the partnership is dissolved), you may have continuing liability.

I don't always urge everyone I respond to on lawguru to go get an attorney, but in your case, I recommend just that, especially if the business is still functioning. Everything might be just slow in getting resolved, but he might also have a serious problem that is getting worse. Since this is a community property state, it is possible that financial ramifications might also extend to you.

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Answered on 7/03/07, 1:55 pm


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